23 Profitable Business Ideas For The 2023 Recession
As the saying goes, “Every crisis represents an opportunity.” The looming recession in 2023, predicted by economists, might bring challenges, but it also opens up avenues for innovation and creativity. In this article, we will explore 23 profitable business ideas that can thrive during the upcoming recession.
1. Online Education Platforms:
With people seeking to enhance their skills and knowledge during tough times, launching an online education platform that offers affordable courses can be a lucrative venture.
2. Home Fitness Equipment:
As gym memberships become less affordable, and people prioritize health and fitness, initiating a business that manufactures or sells home fitness equipment is likely to find a significant customer base.
3. E-commerce Websites:
With more people shopping online due to restrictions or financial concerns, starting an e-commerce website specializing in niche products can be a lucrative business idea.
4. Budget Meal Prep Services:
In a recession, people tend to tighten their belts when it comes to spending on food. Capitalize on this by offering budget meal prep services that provide nutritious and affordable meals.
5. Secondhand Clothing Business:
Thrifty shoppers look for cost-effective clothing options during recessions. Establishing a secondhand clothing business via physical stores or online platforms can be a smart choice.
6. Subscription Boxes:
Create subscription boxes catered to specific interests, such as beauty, fitness, or even hobby-related products. Subscription boxes offer convenience and excitement, making them appealing during uncertain times.
7. Repair and Maintenance Services:
During an economic downturn, people may opt to repair or maintain items instead of buying new ones. Starting a repair and maintenance service for electronics, appliances, or even vehicles can generate significant profits.
8. Personal Finance Consulting:
Many individuals struggle with managing their finances during recessions. Offering personal finance consulting services can help people navigate challenging financial situations and budget more effectively.
9. Home Renovation Services:
As individuals postpone moving to new homes, offering home renovation services can help homeowners make the most of their existing spaces, providing a cost-effective alternative to purchasing a new home.
10. Digital Marketing Agencies:
Businesses often prioritize cost-efficient digital marketing campaigns during recessions. Starting a digital marketing agency specializing in search engine optimization, social media management, or content creation can be highly profitable.
11. Virtual Event Planning:
With restrictions on large gatherings likely to continue, virtual event planning offers opportunities for businesses and individuals to host conferences, parties, or even weddings online.
12. Delivery and Logistics Services:
As more people shop online, establishing a delivery and logistics service to cater to the growing demand can be a lucrative business venture.
13. Renewable Energy Solutions:
With increasing environmental awareness and the need for sustainable energy sources, investing in renewable energy solutions, such as solar panel installations, can be a profitable and socially responsible business idea.
14. Health and Wellness Coaching:
During challenging times, people tend to prioritize their mental and physical well-being. Start a health and wellness coaching service to help individuals maintain a balanced and healthy lifestyle.
15. Home Office Setup and Design:
As remote work becomes more prevalent, offering personalized home office setup and design services can appeal to individuals transforming their living spaces for work purposes.
16. Virtual Assistant Services:
With businesses trying to cut costs, offering virtual assistant services can be beneficial for those who need administrative support but don’t want to hire full-time employees.
17. Mobile App Development:
Mobile apps have become an integral part of modern life. If you have coding skills, consider starting a mobile app development business to cater to the growing market.
18. Personalized Gift Shops:
During tough economic times, people still want to celebrate special moments, albeit within a limited budget. Offering personalized gift options at affordable prices can attract customers looking for unique and thoughtful presents.
19. Sustainable and Ethical Products:
consumers are increasingly conscious of their impact on the environment and their communities. Launching a business that specializes in sustainable and ethical products can attract conscious consumers even during a downturn.
20. Remote Learning Support Services:
The rise of remote learning during the pandemic has highlighted the need for additional support services. Providing tutoring, online study material, or educational podcasts can be a profitable venture.
21. Virtual Fitness Classes:
To cater to those looking for fitness options within the constraints of their homes, launching virtual fitness class platforms or providing fitness coaching services over video platforms can be highly rewarding.
22. IT and Tech Support:
As businesses adopt remote work practices, there is a growing demand for IT and tech support services. Starting an IT support company or offering technical assistance can be a smart business move.
23. Personal Security Services:
During periods of economic uncertainty, people may become more concerned about their safety. Establishing a personal security service that focuses on safeguarding individuals and their assets could prove highly profitable.
These 23 business ideas are just a starting point for entrepreneurs looking to make the most of the upcoming recession. By understanding the needs and preferences of consumers during challenging times, you can adapt and thrive in the ever-changing business landscape. Remember, every crisis hides opportunities for those willing to seize them.
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Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!
For salary earners having a passive source of income is the best thing you could have , because aside the fact that it isn’t always enough you could lose your job any day at any time , have something to fall back to is crucial , for me it is trading the Forex and crypto market and no I didn’t have that much knowledge to begin to earn that’s why I said passive income, I leave the profit making to the pro like my Advisor Jude Ryan Mcdonough who has been doing a wonderful jobforex trading for beginners.
Noah is always authentic ✅
You make more money with this video than anyone could make with these ideas, real genious.
#1 0:23 Reviewing Credit Cards
#2 0:49 Content Remixer
Noah Is always offering the best ways to make money!
Good luck getting anybody to go through your bills
https://www.youtube.com/watch?v=VCPH34QClX4
#bcsbrandconsulting
Shrimp breeding was the only practical idea in this vid.
What you been smokin###ing
"help your friends cut their bills and then take a cut of what they save" – so are they really saving anything? probably not because theyve literally stopped spending money on stuff to then start using that money to pay you… thats absolutely stupid.
Excellent video! It is very important for any person to find something to strive for and fight for no matter what the circumstances. Once you set the right goal for yourself, making decisions will be easy and fun. What used to seem like an excruciating chore will turn into an enjoyable activity. Go where your labour will be needed! Go where there is money and where your work will be decently paid! Sooner or later you will have to co-operate with people of different nationalities and cultures. To make your business successful, you should learn a foreign language. I would like to recommend to you Yuriy Ivantsiv's workshop "Polyglot Notes. Practical tips on learning foreign language". This book will help you to structure and organise your individual language learning process, will give you the opportunity to independently determine the methodology of language learning, which will become interesting and unburdensome. In this amazing book everyone will find a lot of useful information: how to learn foreign languages, how to memorise information, how to deal with culture shock, what to pay attention to when travelling to another country. I am convinced that the book "Polyglot Notes" should be in the bag of every business person, school and college student, and tourist. The most important thing is that the book gives a good motivation. Don't be afraid to do something to realise your dreams! If people realised that fears have no connection with reality, everyone would live a much better life. Thanks to the author of the channel for the informative and useful video. Your videos motivate me and give me new ideas!
These are very valuable rules for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession– it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $89k now to put in the market.
get this
what friend is just going to give you their credit card bill? and what friend is going to charge their friend to help? ur a clown!
Many of these are labor and time intensive with a pittence in return, around minimum wage. Definitely not healthy, useful wealth improving options.
BRB starting a f*cking shrimpin' business selling shrimp for $90/shrimp. Good luck with your side hustles, suckers.
I lost it when he started to talk about shrimp breeding
90 $ per shrimp ?XD
These are garbage
The link is not even https.
As someone who runs an aquarium based business and website, I can totally vouch for shrimp breeding. My buddy at Flip Aquatics makings a killing off breeding shrimp. Love your out of the business thinking Noah ^_^. Btw, you got me started with your 1K course a while back. Thanks for all you do for us business newbs.
How can we do the sponsorship broker?? 5:13
I watched one of your videos and now I'm doing a marathon. Hahah
Awesome content + a great Team.
Thank you uncle
9:22 is @chillys
Wow, this video is a game-changer for anyone looking to start a business in the midst of economic uncertainty. Your insights on profitable business ideas for the 2023 recession are truly invaluable, and I appreciate the practical advice you've shared.
This video was basically a plug for Noah’s businesses surrounded by some mediocre side hustle ideas. Meh
getting into the neon lights business is good money.
He is spot on when he talks about starting a biz during an economic slowdown!! I was a small time builder and did better when business was bad!!! When business was great, everybody and his brother that had a pickup became a builder…shoddy work but low quotes! During tough times materials are less pricey as well as employees and subcontractors…interest rates lower….real estate prices drop!!! Those were more normal times when I once had a 14.5 percent construction loan…yikes! And when good times return you are all geared up to make money!!!! Just sayin'
Report this for MISINFORMATION lol
This is the biggest Bullshhh I ain't letting none of my friends look thru my credit card bills under no circumstances
#Ramp
That meal prep looked tasty AF
Are those shrimp edible?
Some great ideas here. Thanks!
I just got a call to wrap my car for $100 a month I turned down the offer.